Vietnamese Chargé d’Affaires Pham Binh Dam and Timor-Leste's Minister of Commerce and Industry Filipus Nino Pereira discussed measures to boost bilateral trade, strengthen business links and promote investment at a meeting in Dili on June 18.
The talks took place against a backdrop of growing momentum in bilateral relations. Viet Nam's Embassy in Dili, which became operational in April 2026, has established a regular channel for cooperation between government agencies, local authorities and businesses.
The recent official visit to Viet Nam by Timor-Leste Prime Minister Kay Rala Xanana Gusmão from June 8 to 10 also opened new avenues for economic collaboration.
Both sides identified several sectors where Timor-Leste's development needs align with Viet Nam's experience and expertise, including investment attraction, industrial park development, support for small and medium-sized enterprises, and agricultural processing.
Pham Binh Dam noted that bilateral trade had grown but remained well below its potential. Two-way trade reached approximately 18.7 million USD in 2025, with Vietnamese exports accounting for around 18 million USD, mainly rice. He said the figures highlighted significant room for expansion through stronger business connectivity, improved logistics and broader market access.
Minister Pereira said Timor-Leste was reviewing sectors with potential to attract foreign investment and seeking long-term partners to help build domestic production capacity. The government is also working with the Asian Development Bank on plans for port-city development and supporting industries.
The two sides agreed that cooperation frameworks established by senior leaders should now be translated into concrete programmes. During Prime Minister Gusmão's visit to Viet Nam, the two countries agreed to advance the implementation of existing economic agreements, accelerate negotiations on an investment promotion and protection agreement, and strengthen cooperation in education, human resource development and people-to-people exchanges.
